This year I played a support position on the Fed Challenge. Kyle "Will Discuss Monetary Policy for Food" Knerr, Senior - Finance/Economics Double Major Ultimately, as I said before, this was probably the most fun I have had with regards to academic events, and I encourage everyone to devote themselves to it. It also allows you to build interesting friendships with your peers and professors. It allowed me to push myself to extremes that I didn't know were possible (like working full time, taking a full course load of 400 level classes, tutor economics, and run for Treasurer of the Finance Society). While the competition is daunting, strenuous, and stressful it is one of the best ways to apply concepts learned in the classroom to real life. The look on every one's faces when "Team 'P', Indiana University-Purdue University Fort Wayne" was said, was immeasurably priceless.
I think one of the most memorable parts was when they named the room winners. While it would have been amazing to move on, I feel honored to participate in the whole project. Our goal this year was to make it to the afternoon round, something which IPFW has never done before, and also something that some schools rarely reach. While our team was short handed, I think that for the number of people we had we did very, very, very, very well especially considering some of the "Big Name" colleges we beat out ( IU, University of Illinois, University of Michigan - Ann Arbor, Ball State, UNIVERSITY OF CHICAGO). I was able to finally utilize all of the knowledge collected during my time in college and apply it in a very specific manner: the macro economic implications of monetary policy, and the goals and objectives of the Federal Reserve system. Participating in the Fed Challenge is probably the highlight of my undergraduate curriculum. that kind that make you think and synthesize with previous knowledge) to ponder during your summer break, I should have known. When your first experience is receiving 109 in-depth macro-economic questions (yeah. This year was an amazing experience: it was my first time participating in the Fed Challenge, and believe me, they don't call it a challenge for nothing. Furthermore the willingness of the great minds willingly giving up there time to help my own personal develop and education is something is impossible to pass. The opportunity to be openly invited into one the most influential institutions in the country is hard to describe. This was my second time in the competition and I can easily say that is the single greatest thing I have done in my college career. I can honestly declare in all humility that the progress made in three years of participation in the program is more than impressive given the nature of the competing forces involved. This year was different armed with a greater focus and a well devised plan built on three years of obsession we were able to accelerate into the finals. Last year we fell short of U of Chicago by a heart breaking three points. Our district compromise of some of the top economic programs in the nation, Northwestern and University of Chicago are the biggest heavy hitters in country. But the core of the competition is the ability to understand the social implications that the actions of the Fed have the entire system from large financial markets like the NYSE to individuals looking for a car loan.Įach year every district invites schools to participate in this rewarding and appropriately named challenge.
The competition requires not only a focus on macro economic variables to assess economic well-being of the country. The Fed is simply the banker’s banker and steward of the financial system in the United States. That is exactly what the competition is attempting to change. The Fed for many people is mysterious, monolithic aberration that the news reports on all the time.
All though I don't really like talking about the challenge simply because typically no one knows what I'm talking about. Well, what can I say another Fed Challenge competition completed.
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